MANILA, Philippines — The completion of new public projects such as airports, seaports, expressways and railways should bode well for property developers and occupiers in the country, as well as spur demand for spaces outside the capital.
The success of President Rodrigo Duterte’s plan to improve the country’s infrastructure backbone will strongly influence the direction of real estate developments beyond his term, property consultant Colliers International said in a report.
Related Stories
“Based on the government’s infrastructure plan, Colliers expects Metro Clark, Metro Cebu, Iloilo, Bacolod, Bulacan province and Davao City to benefit from the Duterte administration’s infrastructure push,” Colliers Research Manager Joey Bondoc said.
“This should result in a more buoyant property market in these areas,” Bondoc added.
A centerpiece of his economic strategy, Duterte’s ambitious infrastructure plan, known as the “Build, Build, Build” program, involves 75 flagship projects — 52 of them, or 69% of the total, are to be funded through foreign loans.
Data from the National Economic and Development Authority shows that nine of the flagship projects are under construction while two were already completed as of end-July.
Of the 75 big-ticket projects, 21 are expected to be completed by the end of Duterte’s term while the remaining 54 will be finished beyond 2022 even if implementation starts during his presidency.